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Some 12,000 people were reported to have earned more than W100 million (US$1=W1,269) from financial investment last year. According to a parliamentary audit submitted by the Ministry of Strategy and Finance, 35,924 people paid comprehensive income tax totaling W6.86 trillion.
Comprehensive income tax is imposed at a progressive rate upon those earning more than W40 million annually from financial investment.
From those subject to comprehensive taxation, as many as 12,009 people reported financial income exceeding W100 million, comprising 79.4 percent of the total (W5.446 trillion).
Some 6,368 people reported financial income of W100 million - W200 million; 2,050 reported W200 million - W300 million; while those who earned W300 million - W500 million amounted to 1,468. Meanwhile, 2,105 respondents reported income exceeding W500 million.
(englishnews@chosun.com )
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